Commentary to Amendment Paper No 20 to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill
Amendment Paper No 20 contains further measures to be added to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill.
Amendment Paper No 20 contains
- Restore the ability to claim interest deductions for residential investment properties
- Repeal the current ten and five-year bright-line tests and replace with a two-year bright-line test
- Remove the ability to depreciate commercial buildings
- Improve the tax treatment of the disposal of trading stock at below market value
- Introduce a new gaming duty
- Introduce a transitional rule relating to platform economy rules